Gamco Investors INC. ET AL Reduces Position in Vaalco Energy Inc $EGY

Gamco Investors INC. ET AL decreased its holdings in shares of Vaalco Energy Inc (NYSE:EGY) by 13.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 638,220 shares of the energy company’s stock after selling 96,362 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Vaalco Energy were worth $2,323,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC grew its holdings in shares of Vaalco Energy by 91.1% during the third quarter. CWM LLC now owns 8,469 shares of the energy company’s stock worth $34,000 after buying an additional 4,038 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Vaalco Energy in the 3rd quarter worth $41,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Vaalco Energy in the 3rd quarter worth $44,000. Caprock Group LLC acquired a new stake in shares of Vaalco Energy in the 3rd quarter worth $44,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Vaalco Energy in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.

Analyst Upgrades and Downgrades

EGY has been the subject of a number of recent research reports. Zacks Research raised Vaalco Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Wall Street Zen downgraded Vaalco Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings downgraded Vaalco Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $7.30.

Vaalco Energy Stock Performance

NYSE EGY opened at $5.87 on Friday. The stock has a market cap of $611.80 million, a PE ratio of -4.28 and a beta of 0.17. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. Vaalco Energy Inc has a twelve month low of $3.14 and a twelve month high of $6.72. The stock has a fifty day simple moving average of $6.01 and a 200-day simple moving average of $4.83.

Vaalco Energy (NYSE:EGY) last released its quarterly earnings results on Thursday, May 7th. The energy company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.44). The business had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $78.20 million. Vaalco Energy had a negative return on equity of 12.74% and a negative net margin of 45.86%. Equities analysts anticipate that Vaalco Energy Inc will post 0.11 earnings per share for the current year.

Vaalco Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.0625 per share. The ex-dividend date is Friday, May 22nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 4.3%. Vaalco Energy’s dividend payout ratio is currently -18.25%.

About Vaalco Energy

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.